Deutsche Bank analyst Steve Powers lowered the firm’s price target on Hershey (HSY) to $148 from $184 and keeps a Hold rating on the shares. With cocoa prices “still troublingly high” without any evident signs of easing ahead, Hershey is facing “severe” gross margin and volume pressure over the course of fiscal 2025 and 2026, the analyst tells investors in a research note. Additionally, the firm expects the company’s sales growth “will be choppy” given an Easter timing shift into Q2 and shipment comps related to last-year’s enterprise resource planning implementation.
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